Business Owner Takes Chances For Credit

COLUMBUS, Ohio—Even as more businesses close their doors in the face of a bad economy, one Central Ohio woman is taking chances and finding lines of credit.

Her business proves with willpower and the right guidance, a big idea can become a big business.

If you are confident, you are beautiful. Those inspiring words decorate a wall and are making money for Mary McPhail.

“You want to do something that you’re passionate about when you’re in business in the long run,“ McPhail said.

Her business—Wonderful Graffiti—has made it to the pages of Oprah Winfrey’s home magazine and she is working with several major home retailers.

But McPhail knows the economy isn’t making anyone confident right now.

“What we sell is discretionary. When they’re trying to buy groceries, they’re not thinking about what monogram they’ll put on their wall,“ McPhail said.

She put the equity in her house into creating her Web site where people can design their ideal space.

But to maintain her business, she needed another line of credit.

That’s where partnering with a small business group helped her find a lender who was willing to support her vision.

“You’re trying to find your way and they’re your support net. You have a question, you can find the answer. They are there like that,“ she said.

Expert say to get that loan, a good partnership and business plan will speak volumes to lenders.

“You don’t need to be looking out 12 to 18 months. You need to be looking out five years or more—Who your customers are, who can buy your product,“ said Michael Bowers, of the Small Business Development Center of Columbus State Community College.

For McPhail, it was advice that landed her a loan.

“I think that gave us the calm, the confidence,“ she said.

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